BankBazaar’s #GoPaperless, one of the most unique digital banking campaigns

Do you know that it takes one tree to make 230 average sized newspapers? The environmental concern does not end there, but rises when we explore the future demand for paper. According to the data published, India’s paper consumption was 13 million tonnes (Mt) in 2014, which is expected to rise by 53% to 20Mt by 2020. Not only this, on an average, 4 billion trees are cut down each year for the world’s paper use and approx. 95% of all data in the world is still stored on paper – and most of it is never looked at again. This is raising serious concerns for the environment.

BankBazaar, as a disruptive online, digital brand, is trying to change this paper-based mind-set and urges customers to look beyond paper. Though the brand has been talking about #PaperlessFinance since 2015, this year they chose a very unique but apt occasion to spread more awareness. On 27 January, the day after Republic day, millions of newspapers did not get printed in India. So, BankBazaar marked the day after Republic Day – a “paperless day”, by handing out saplings to people as a reminder to be mindful about the paper we are using, how it affects our planet, and the alternatives available.

Speaking on the unique marketing initiative, Prince Thomas – Head Brand Marketing at BankBazaar said: “As an online business, BankBazaar is all about going the paperless route. Normally, people associate digital processes with convenience and speed, but rarely do they connect the environmental cost of paper-based processes. So we chose plants as our symbol to remind people to do their bit to nurture the world and their finances, and encourage them to think of #PaperlessFinance as not just an easier and faster but also environmental friendly option.”

According to BankBazaar, there are several reasons to go paperless. There is speed, convenience, cost and many more. But what the company is also eager to talk about is the benefits it delivers to our environment. At a time when trees are vanishing faster than you can say “home loan”, it is time to think of every small bit that can contribute to the environment. This was the thought behind BankBazaar’s recent #GoPaperless campaign.

It was all about the integration and execution of the campaigns and here are some of the reasons which make this a unique one.

1. Brand BankBazaar owned the day completely. January 27 has always been a “no newspaper day” since 1950s, but the paperless-ness of this day has never been associated with environmental causes. This is first time that a brand connected a no-newspaper day with the environmental benefits of going paperless and built a campaign around it to support digital initiatives.
2. The campaign is a thought initiator in many ways. The simplicity of the campaign helped people realise that even small actions can have cumulative effects. One did not need to become a full-fledged conservationist to do something for the environment. Even taking up the responsibility for a small sapling and nurturing it can be a worthwhile initiative that will yield results in time, both in terms of personal satisfaction and the environment at large.
3. The campaign itself was 100%  paperless, i.e., digital. As an online business, BankBazaar has always chosen the digital media over traditional ones such as TV and print. Like other successful campaigns run in the past, BankBazaar also promoted this campaign completely online.
4. The campaign is at the core of what the business does. It has world’s first brand which delivers loans and CC completely #paperless. This not only urges end users to choose an environment friendly alternative but also enables financial companies to become 100% paperless. At present, there are more than 50 Banks and Financial Institutions reaping the benefits of BankBazaar’s paperless technology and contributing their bit to the environment.
5. Less words and more actions made the campaign execution unique. BankBazaar let the initiative do the talking by combining the conversation on paperless and the environment and amplifying it in a very relevant way. Living breathing saplings that need to be nurtured and cared for, much like finances, build a stronger connect than abstract information on deforestation.

Speaking about the digital campaign, Adhil Shetty, CEO & Co-founder BankBazaar, said: “As an online marketplace for financial products, BankBazaar has always focused on processes that are simple, secure, and swift. We believe that paperless processes and the environment both go hand-in-hand and together, they tell a bigger, more inclusive story.”

Social Media footprints: The post on BankBazaar’s FB page says - “Peace of mind and satisfaction of having done something good are priceless. Care to choose an option that is not just easier and faster but also environmental friendly option?#GoPaperless”. The hash tag #GoPaperless was also trending on twitter.  Some of the online influencers like Varun Agarwal also tweeted about the campaign.